Eland oil and gas Plc, is hopeful that the Gbetiokun is expected to yield 15,000 barrels of oil per day, bopd from its early production system.
The company’s chief executive, George Maxwell said, the Gbetiokun field has the potential to deliver a significant increase in oil production from OML 40,” .
Thenoil firm told investors that the Gbetiokun-3 well has encountered oil-bearing reservoirs across multiple horizons and it will be completed as a producer.
In a statement, Eland Oil and Gas confirmed the completion of the drilling of the appraisal and development well.
It said it expects production testing will take place during the first quarter for the Gbetiokun-1 and Gbetiokun-3 wells into an early production system, which will have combined production at around 15,000 barrels of oil per day.